Sensex, Nifty erase gains; Tech Mahindra up, Bharat Fin sinks
The market started off trade mildly positive amid consolidation on Tuesday as investors awaited assembly elections results due later in week.
The 30-share BSE Sensex was up 20.20 points at 29068.39 and the 50-share NSE Nifty gained 5.85 points at 8969.30. About 533 shares advanced against 250 declining shares on the BSE.
NTPC, Reliance Industries, Coal India, Adani Ports, BHEL, Tech Mahindra, Tata Power and Eicher Motors were early gainers while Infosys, Hero Motocorp, Tata Motors, Hindalco, IndusInd Bank, M&M and Idea Cellular were under pressure.
The Indian rupee has opened higher by 5 paise at 66.67 per dollar on Tuesday versus 66.72 Monday.rupee will continue to trade positive considering optimism prevailing in domestic equity market and will head towards 66.50/dollar.
He expects the USD-INR to trade in a range of 66.50-67/dollar today.The dollar held onto gains, lifted by the Federal Reserve's near-certain March rate increase, while political uncertainties over the French presidential election weighed on the euro.
Asian shares wavered, after Wall Street traded lower overnight on increased expectations that the Federal Reserve could tighten monetary policy next week.
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